Merry Christmas: Barney Frank Won’t Seek Re-Election

Barney Frank is one of the most liberal and destructive members of Congress. America couldn’t get a better Christmas gift this year than to learn that he is not seeking re-election in 2012. It was his banking regulations that contributed to the economic mess that we are in today:

The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.

The Dodd-Frank law, a contentious set of provisions that Republicans say add layers of regulatory burdens without preventing potential future meltdowns, was made in response to the near collapse of the banking industry in 2008. Among other actions, it created a Consumer Financial Protection Bureau to oversee access to banking products and required listing ratios of executive pay to median employee salaries.

In all likelihood, a majority of the stupid people in Massachusetts will elect another Democrat who will promise to conform to the Barney Frank mold.

In addition to Frank’s leftist, confiscatory economic policies, he was one of the first lawmakers to announce that he is homosexual. TIME magazine listed Frank’s sexual proclivities as one of the top 10 political sex scandals:

Widely regarded as one of the most intelligent and well spoken members of the House of Representatives, Barney Frank, a Democratic Congressman for nearly 30 years and the first openly gay member of the House, almost undid his career in 1989 after having an affair with Steve Gobie, a male prostitute. Although Frank was single at the time — thus not committing adultery — he did pay someone for sex (with personal funds), which is illegal in his state of Massachusetts. But the poor judgment didn’t end there. Frank hired Gobie to run errands and allowed him to live at his home, where Frank obviously hoped he would be rehabilitated and renounce his life of sin. The only problem: Gobie kept on working as a prostitute — from Frank’s home.

Frank was re-elected, and re-elected, and re-elected. Shortly after proclaiming is homosexuality, Frank involved sexually with Herb Moses, an economist and LGBT activist. Moses was an executive at Fannie Mae from 1991 to 1998. Do you think there might be some connection with Frank’s overboard support Fannie Mae? The Los Angeles Times reports:

Frank has also been criticized for his close ties to mortgage giants Fannie Mae and Freddie Mac, which Republicans blame for the collapse of the subprime mortgage industry. Frank, known for his spirited defense of Democratic policies in committee hearings and on the House floor, has rejected any blame for the mortgage crisis.

Of course he rejected any blame. He’s a protected member of Congress who probably has secrets to tell on other Congressmen. But that’s an article for another day.

Frank admitted he helped his ex-lover land a post with Fannie Mae in the early 1990s. He called questions of a potential ethical conflict “nonsense.”

If it is [a conflict of interest], then much of Washington is involved [in conflicts],” Frank told the Boston Herald. “It is a common thing in Washington for members of Congress to have spouses work for the federal government. There is no rule against it at all” (Source).

Anyway, Merry Christmas, even though we have to put up with Barney Frank for one more year.